Obviously you want to pay attention to your interest rates, cost of appraisals, and fees for refinancing.

If it's great, then you'll be paying less in fees. 3.

@Jeremy H.I think you hit the nail on the head here - the problem is 1) the deliberate marketing, plus 2) the genuinely well meaning content from 2016, when prices and interest rates were lower.  

Assuming FHA or VA loan at lower rate , although I need to cover current equity in home?

With the WSJ Prime Rate in the 8%s, you're probably in the 9%s on your line right now (just an assumption).

In these cases, interest rates tend to surpass cap rates, compounded by rapid appreciation.

I'm thinking of keeping the 2bedrooms at the current rate. 

.- Perhaps you think rates are going to move lower.

I am looking at my first rental property investment, with the current rates and San Diego pricing cashflow is very hard, so I wonder if I should remove tax property and insurance from my cashflow calculations as they are 100% deductible at some point.

Typically when getting checkbook control you will have a higher establishment fee but less ongoing fees and delays when having to go through the custodian each time you need to perform a transaction.